About Per SE

Commentary and research on current events and public policy by economists from the University of the Philippines
Monthly archive November 2013

Why has Japan’s massive government debt not wreaked havoc (yet)?

[with Takaaki Nomoto and Akiko Terada-Hagiwara] In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends.

Diokno interviewed on DZMM

Professor Benjamin Diokno was interviewed on radio station DZMM regarding the PDAF and DAP issues. The following reports the gist of the interview.

Anatomy of corruption

Under the law, corruption is illegal. In the public sphere, corruption may be committed in the award of contracts having to do with the use of public funds or through unlawful and dishonest deviation(s) from the expected performance of government officers and employees.

Understanding the DAP

On fiscal affairs, the balance of power emanates from the doctrine of separation of powers enshrined in the Constitution -- the President prepares, proposes, and implements the budget, Congress authorizes it, and the Supreme Court serves as final arbiter on the budget law in case of disagreement between the President and Congress.

Reform or perish

It was exactly 27 years since democracy was restored in the country and a quarter of a century since a new Philippine Constitution was ratified by the Filipino people. But to date, the government of the day continues to operate under “martial law” budget rules.